News/Risk management
CBOT chief again hits out at Eurex US
Chicago Board of Trade (CBOT) chairman Charles Carey urged the Commodity Futures Trading Commission to conduct a full and careful review of the application by Eurex to establish a US subsidiary yesterday. Carey’s comments are the latest in an ongoing…
US legislators question Basel II effectiveness
The Financial Services Committee of the US Congress said today it is not convinced that the current proposals under Basel II will be able to reflect modern risk management practices and eliminate regulatory arbitrage opportunities.
Rabobank to implement SunGard credit risk software
Rabobank will implement Credient MC2, a credit risk measurement package owned by SunGard Trading and Risk Systems, as a cheaper alternative than investing in a new credit system infrastructure.
Lloyds TSB hires FSA risk regulator
Lloyds TSB, fined recently by the Financial Services Authority (FSA) for mis-selling investment products to retail investors, has responded by hiring the UK financial watchdog's top risk regulator.
Moody’s hits out at combined cash and synthetic CDOs
Moody’s Investors Service has warned investors that the International Swaps and Derivatives Association legal documentation underpinning combined cash and synthetic collateralised debt obligations (CDOs) is far from perfect.
Moody's hits out at combined cash and synthetic CDOs
Moody's Investors Service has warned investors that the International Swaps and Derivatives Association legal documentation underpinning combined cash and synthetic collateralised debt obligations (CDOs) is far from perfect.
JP Morgan Chase to spend over $100 million on new credit risk system
The executive committee of JP Morgan Chase has "essentially approved" a budget in excess of $100 million to be spent on creating a new integrated credit risk management system, according to Dennis Oakley, a managing director in the firm's credit…
JP Morgan Chase plans US power trading foray
JP Morgan Chase is establishing a New York-based electricity trading desk, joining a growing number of banks that have entered the sector in the past year.
Speakers voice synthetic credit and capital structure arbitrage fears
A number of speakers at Risk ’s Credit Risk Summit USA 2003 voiced concerns about investments in credit derivatives and capital structure arbitrage yesterday. Sivan Mahdevan, an analyst in Morgan Stanley’s credit derivatives research group, when opening…
Basel Committee publishes paper on bank compliance functions
The Basel Committee on Banking Supervision published a consultation paper yesterday outlining basic guidance for banks on the structure and operation of their compliance function, and "sets out banking supervisors' views on compliance in banking…
Caruana: 2006 implementation of Basel II still on target, despite difficulties
Despite recent controversies in the wake of the third Basel II consultative paper (CP3), Jaime Caruana, governor of the Bank of Spain and chairman of the Basel Committee on Banking Supervision, says he believes the new Basel II Accord will be implemented…
SEC publishes its own Basel II framework
The US Securities and Exchange Commission (SEC) has finally posted its proposals for its own Basel II framework for broker-dealers and investment bank holding companies on its website.
Sponsor's article > Updated SunGard Basel II CD now available
SunGard Trading and Risk Systems has updated its Basel II CD to reflect events up to and including October.
GFI buys exotic options model
Inter-dealer broker and market data firm GFI Group has bought options pricing model dVega and integrated it with the latest release of its flagship options pricing tool Fenics FX.
iBoxx launches tradable CDO tranches
Bond and credit default swaps index company iBoxx has launched a series of tradable instruments linked to single tranches of one of its credit default swap (CDS) indexes.
JP Morgan Chase prepares first syndicated synthetic CDO
JP Morgan Chase has taken a leaf out of the bond and loan markets by putting together the first syndicated synthetic collateralised debt obligation (CDO).
Geithner to replace McDonough at New York Fed
Timothy Geithner, currently the director of the Policy Development and Review Department at the International Monetary Fund (IMF) in Washington DC, has been named the next chief executive of the Federal Reserve Bank of New York.
Risk overhaul at US banks due to economic capital not Basel II, says Fed's D'Silva
Economic capital, not the impending introduction of Basel II, is driving risk management initiatives at US banks, according to the Federal Bank of Chicago's director for capital and market risk, Adrian D'Silva.
Algo to release flagship Basel II-compliant system in January
Canadian risk management systems vendor Algorithmics will release version 4.4 of its Algo Suite flagship product on January 15.